On December 31, 2013, Wellstone Company Reported Net Income of $70,000

question 38

Multiple Choice

On December 31, 2013, Wellstone Company reported net income of $70,000 and sales of $210,000. The company also reported beginning and ending accounts receivable at $20,000 and $25,000, respectively. Wellstone will report cash collected from customers in its 2013 statement of cash flows (direct method) in the amount of:

• A)$215,000.
• B)$285,000.
• C)$135,000.
• D)$205,000.

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Definitions:

Female Condom

Soft, lose-fitting disposable soft plastic (nitrile) pouch with a diaphragm-like ring at each end that covers the cervix, vaginal walls, and part of the external genitals to prevent conception and help protect against STIs. Also called internal condom or FC2 Female Condom.

Oil-Based Lubricants

Lubricants made from oil, which can be used to reduce friction during sexual activity, but may degrade latex products.

Water-Based Lubricants

Lubricating products that use water as a base, often recommended for their compatibility with condoms and ease of cleanup.

Depo-Provera (DMPA)

A contraceptive injection containing the hormone progestin, given every three months to prevent pregnancy.